KUALA LUMPUR: Malaysia's Central Bank Governor Zeti Akhtar Aziz said that Asian countries are ready and prepared to face any economic shocks that could erupt from the Euro-zone struggles. He argued that Malaysia, in particular, strengthened the country's financial systems in the late 1990s during a regional crisis and along with neighboring Indonesia and China, are ready to work forward despite a potential economic downturn. Asia is in a “better state of readiness" to face shocks as policies geared toward strengthening domestic demand anchor growth prospects, Zeti, 64, said in a speech in Jakarta on Friday. Her confidence echoes the sentiment of policy makers across the region, with China saying its economy is heading for a rebound this month and Indonesia saying this week that its banks are still growing amid Europe's woes, underscoring domestic strength. Malaysia's economic expansion has stayed above four percent since it emerged from a recession in 2009, as rising public spending and a yearlong pause in interest-rate increases countered Europe's debt crisis and a faltering US recovery. Zeti, who oversaw the country's capital controls in response to the Asian crisis, has guided monetary policy in the Southeast Asian nation through regional health epidemics, natural disasters and the last global slump.
